Let $k$ be a field and let $k[t, x]$ be the polynomial ring in two variables. Is it true that $k[t][[x]]=k[t]\otimes_kk[[x]]$ or does the completion of $k[[x]]$ make that impossible? We can compute
$$k[t][[x]]\cong\lim_i k[t,x]/(x^i)=\lim_i\oplus_{j\leq i}k[t]x^j=\prod_i k[t]x^i=\\ \prod_i k[t]\otimes_k x^i,$$
where $x^i$ in the tensor product is the $1$-dimensional vector space over $k$ spanned by $x^i$.
The computation does not tell me much about whether we can commute $k[t]$ with the direct product. Can we?